07/02/2022

U.S. Third-Quarter GDP Growth Revised Down to 3.4%

The pace of U.S. economic output growth was revised down slightly to a still-solid rate in the third quarter, but the momentum could be difficult to maintain in the year’s final three months.

Gross domestic product, a broad measure of the goods and services produced across the U.S., rose at a 3.4% seasonally and inflation-adjusted annual rate in July through September, the Commerce Department said Friday.

The agency previously estimated last quarter’s growth rate was 3.5%. Economists surveyed by The Wall Street Journal had expected the figure to be unrevised in the latest report.

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